If residents don't agree with the 2009 assessed value of their home -- compared with the previous year's assessed value -- they may make an appointment before the Board of Review to request a lower property value.

Tax bills will show that Flint Township homes, on average, are worth 11.7 percent less than they were one year ago, which means a lower total assessment of $71.1 million.

Genesee County Equalization Director Mike Ortiz said the numbers are based on an annual study. "Assessors are basing their rolls by that," Ortiz said.

Mike Coburn, 52, a resident and former township treasurer, said his tax bill shows the state equalized value, or SEV, of his home went down $13,000.

"My taxes will go down $110," he said. "Everybody I talked to said theirs is down."

Usually, taxable values increase by the rate of inflation or by 5 percent -- whichever is lower -- every year while the home's actual value fluctuates.

The retail value of a home is what an owner paid for it or what it would sell for on the market. The SEV is half of the value of the home. The home's taxable value is equal to the SEV at the time of purchase, plus inflation or 5 percent (whichever is lower), each year.

For example, a home purchased for $100,000 in 2000 would have an SEV of $50,000, and the taxable value also would be $50,000.

If, in 2001, the home's value increased to $150,000 -- making the SEV $75,000 -- the taxable value would be $50,000 plus inflation.

But if, in 2002, that same home dropped in value to $120,000, the taxable value would still go up until it is equal to the SEV, half of the home's current value.

In this example, the home's taxable value would increase to $51,500 plus inflation.